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Bank lending in Singapore flat in September
Total bank lending in Singapore remained flat in September from August, recent data from the Monetary Authority of Singapore (MAS) revealed Friday (31 October). According to the central bank, loans and advances by domestic banking units in the city-state amounted to S$604.5 billion ($473.2 billion) last month, compared to S$604.6 billion in August. On a year-on-year basis, September bank lending grew by 10.6 percent from S$546.6 billion last year. Meanwhile, September housing and bridging loans increased 6.5 percent to S$174.5 billion from S$163.8 billion in 2013. The loans stood at S$173.5 billion a month earlier. Overall, total consumer loans rose 5.7 per cent last month from S$220.9 billion in September last year to S$233.6 billion last month. Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this and other stories, emailnikki@propertyguru.com.sg
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